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6 Dec 2007 13:00
AECI LIMITED
(Incorporated in the Republic of South Africa)
(Registration number. 1924/002590/06)
Share code: AFE ISIN No. ZAE000000220
("AECI" or "the Company")
CHANGES TO THE BOARD OF DIRECTORS
Schalk Engelbrecht has advised the Board of directors of AECI ("the Board") that he will retire from his position as chief executive of the Company on 1 March 2008, at which time he will have reached his full retirement age.
The Board acknowledges the invaluable input that Schalk has made to the Company's businesses and its Board since his appointment as chief executive in April 2003. His leadership in continuing to position AECI as a world class provider of chemical-based specialty products and services, particularly to the mining and manufacturing industries, has been exemplary.
AECI is pleased to announce that Dr G N (Graham) Edwards (53) will succeed Schalk as chief executive of AECI, with effect from 1 March 2008.
Graham is currently managing director of African Explosives Limited (AEL), which position he has held since 1999. He has led the current transformation process to entrench AEL's position as a world-leading supplier of cost-effective, quality and safety-enhanced explosives and initiating systems through automation and re-engineering.
Graham joined AECI in 1978 as a design engineer and, prior to taking up his position as managing director of AEL, he worked in several positions in the production, engineering, buying and strategic planning fields. He joined the Board of AECI in an executive capacity in January 2007. He is also a member of the Company's executive committee, a non-executive director of Chemical Services Limited and chairman of the DetNet joint venture.
His fellow AECI directors and all his AECI colleagues congratulate him on his appointment.
Graham's successor at AEL will be named in due course.
Fani TitiChairmanWoodmead6 December 2007Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
AECI LTD
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